VET to $1 and $2 Parabolic Moves Come Into Play, Analyst Explains VeChain’s Next Critical Movements

News

  • Altcoins charts reflect rising sentiment for altseason and VET holders are in a frenzy.
  • Analyst highlights VET price making two significant moves toward $1 and $2 targets.
  • He expects this pump to unfold in 150 days, VeChain will turn aggressively bullish.

Altcoins are preparing for a major price boom as altseason approaches. With Bitcoin preparing to hit its next trend high between $68,000 and $70,000, expectations for altseason to follow immediately are gaining traction. This paired with the bullish expectation for another green Q4 in a Bitcoin Halving year further fueling positive sentiment for the crypto market.

Altseaon Approaches, Which Altcoin Will Take The Lead?

To highlight, many altcoins are already shaping highly bullish signals in their respective price charts. Between tight Bollinger Bands like in Ripple’s XRP chart, the completion of a huge cup and handle pattern for JASMY, and other bullish signs in the charts of popular altcoins like SHIB, DOGE, ADA, and others, sentiments for a grand altcoin is only getting stronger. 

Similarly, another popular altcoin is also showing highly bullish indicators. Specifically, VeChain (VET) seems to be joining the bullish altcoins band right before we enter Q4. According to a popular crypto analyst, Egrag Crypto, VET could be on the brink of major moves, with two key scenarios in play, he marks ‘Move A; targeting $1 and ‘Move B’ aiming for $2.

https://twitter.com/egragcrypto/status/1837366576426758372

VeChain’s Critical Moves Towards $1 and $2 Highs 

According to CoinMarketCap analytics, VET is currently trading at $0.02449, and is up by 1.77% in the last 24 hours. The analyst’s technical analysis outlines VET’s historical performance and future potential, using support and resistance levels, Fibonacci retracement, and Elliott Wave theory to map possible trajectories.

In ‘Move A’, VET could surge to $1 if the impulsive Wave 3 pattern completes. Key Fibonacci levels, like 0.786 ($0.1495) and 0.618 ($0.0921), will play a critical role, serving as either support or resistance points. If these levels are surpassed, VET could see rapid price appreciation, similar to its historic 95,212% surge.

‘Move B’ offers an even more bullish outlook, with a $2 target. This scenario also depends on completing Wave 3 but anticipates more aggressive price movements, fueled by robust market momentum and elevated Fibonacci extension levels.

Lastly, the analyst suggests that these movements could happen within 150 days, reminiscent of past bullish cycles. As VeChain captures more interest with its strong technical framework, investors are keeping a close watch on market conditions. 

The post VET to $1 and $2 Parabolic Moves Come Into Play, Analyst Explains VeChain’s Next Critical Movements appeared first on Crypto News Land.

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